Little known Viva Impian plans largest integrated development in Cheras Registration

The site is the green lung area at the north-western side of Taman Taynton View, near Taman Mutiara Barat.

Currently, the site consists of 84 land parcels spread over an area of approximately 20 acres.

On the far east of Taman Mutiara facing Jalan Cheras, another mixed-use development known as EkoCheras is currently ongoing. Developed by Ekovest Bhd, the 11.5-acre EkoCheras will be linked with a Mass Rapid Transit (MRT) station and has a total gross development value (GDV) of RM1.6 billion.

Being the new kid on the block, Viva Impian already has plans for a mixed development that would comprise of a 5-level shopping mall, several blocks of service apartments, a signature service residence, serviced suites and SoHos, two corporate office towers and one block of hotel.

All nine towers will sit on the fringes of the lifestyle shopping mall that will consist of a green central park, a mini theme park, a driving range, valet units and a water roofscape that will enhance the appeal of the development.

According to a source, the company has submitted land agglomeration plans to the authorities and its intention to convert the land status from residential to commercial use on a relatively high plot ratio.

If the proposed plot ratio were to be granted and masterplan approved, PTLM believes that Viva Impian’s development will be at least twice larger than EkoCheras. Based on PTLM’s estimates, the former will have a GDV of RM4 to 5 billion.

The development wil be linked via new road ramps that will be built over the Middle Ring Road 2 (MRR2).

A quick check on Viva Impian reveals that its two shareholders were appointed as directors of the dormant company in January last year. They are Koh Soo Huat and Hew Chop Chee.

PTLM has not been able to verify if the company is closely related to Datuk Seri Koo Tee Yam, a former head of the so called “Four Heavenly Kings” of Kuala Lumpur. Datuk Seri Koo was said to be venturing into property development and was also planning to redevelop the former Bintang Palace (behind Starhill Gallery) in Bukit Bintang into a 52-storey hotel tower with 650 rooms.

The proposed masterplan as per Viva Impian’s submitted Development Order pertains to the following details.


*** *** *** 

Block A: Signature Serviced Residence 60-storeys (832 units)

Block B: Service Apartment T1 49-storeys (686 units)

Block C: Service Apartment T2 49-storeys (686 units)

Block D: Service Apartment T3 70-storeys (980 units)

Block E: Service Apartment T4 70-storeys (980 units)

Block F: Serviced Suites Tower 49-storeys (588 units)

[Total Residential Development: 4,752 units]

*** *** ***

Block G: Office Tower T1 59-storeys

Block H: Office Tower T2 59-storeys

Block J: Business Hotel & Serviced Residence 40-storeys

Block I: 5-level Shopping Mall as base podium with 7 levels of sub-level and basement carparks


View: Podium greenscapes above the shopping mall and surrounded by skyscrapers in the heart of Cheras.



Conezion @ IOI Resort City Registration

Balance is The Key of Life
Conezión is the secret to unlock.

Vibrancy and variety. At Conezión, life blossoms in idyllic harmony between residential comfort and retail indulgence. All within a short stroll, connecting all walks of life is the cleverly designed retail boulevard, complemented by gourmet delicacies and relaxing hangouts that fulfill diverse desires.

Contemplate the view before you and expect only the finest. Luxuriate in the picturesque view that adorns the backdrop of your spacious balcony. To fit living aesthetics, choose your ideal residence from 3 distinct layouts with built-ups ranging from 750 sf to 1,200 sf. Lay back with tranquility and blend in your sanity thereafter.

All is well, revel in the epitome of privacy and serenity. Conezión safeguards your beloved family in uninterrupted blissful living. Enjoy life at ease, knowing that safety is always prioritised round the clock.

Amidst the highly liveable IOI Resort City, Conezión bestows a delightful experience upon residents’ daily life. Sprawling a vast 320 acres of prime land in southern Klang Valley, the evergreen modern city brings together inspiring residential enclaves with world-class shopping, entertainment, business, commerce, recreation and accommodation.

Just a mere 700m away from Conezión is home to a mega-sized regional mall, IOI City Mall. It is home to 350 specialty stores, more than 100 food and beverage outlets, Icescape ice-skating rink and District 21, the first-of-its-kind action-themed park in Malaysia. It is a new generation shopping centre which draws crowds from all over Kuala Lumpur and the spillover effect from its success results in extra business opportunites for Conezión.

Partake in a world class epicentre.
Life at its best surrounded by remarkable urbanites.


Now Open For Sale


Overall Development Concepts


  • The whole development is designed to offer a lifestyle living of which an intricate relationship between residential and commercial setup, which create spaces and linkages to form an exuberance atmosphere for people to live, work, play and entertain.
  • This self-contained development provides the convenience of city living with well-connected highways.
  • Residents will find everything that a city can offer at their doorstep.
  • With boutique facilities and fun-shaped pool provided at the landscape deck level placed above the shops, the residents are assured of a peaceful environment and uninterrupted view of surroundings while indulging in their activities.
  • Its dedicated drop-off areas for each of the towers with exclusively high-ceiling lobbies greet the residents and guests.
  • Unconventional archway design hovering above the guardhouse distinguishes itself from the rest, making it a resort-like and providing a smoothing retreat ambience.
  • The glassy façade articulated with its crescent-shaped steel framing gives a distinctive character to the building and it is aimed at being one of the iconic residential towers in the area.
  • Wider frontage with full glass windows for rooms and living/dining area makes the units brighter, breezier and trendier with optimum views.
  • The creation of central courtyard, in-between nodes, wider paving areas (along roadside) and open terrace in the commercial area is to cater for more interaction space to promote socio-economic activities. This has forged a close relationship between human, street and building and thus creating a lively atmosphere.
  • Commercial offices have curtain wall with irregular setup of window panels making it an interesting pattern for the façade of blocks facing the main road, whereby most of the internal shops façade is designed with a ’boutique style’ shopfront with advertisement, signages and display area which are all given the utmost consideration.
  • A modern contemporary development where crisp and strong linear elements with bold horizontal and vertical features could be found prominently on the glassy façades.
  • Organic form elements are used at central courtyard of the commercial area, i.e. curve-shaped corridors, curved waterscapes and landscape moulding in order to inject some irregularities and create a ‘festive’ mood to it.


Residential Concepts

  • Four residential towers at the height of 25 and 26 storeys emerge from the commercial blocks, anchoring the north and south ends with 2 towers each end respectively.
  • The positioning of the tower blocks were dictated by the views of the sprawling 18-hole Palm Garden Golf Club.
  • Each of the units have wide frontage whereby all the rooms and living are able to be positioned facing out.
  • All living areas are in the middle of the unit layout, which means the bedrooms will be located at both sides. This would remove the need for a corridor linkway to the bedrooms, hence increasing the overall space utilisation.
  • Although there are 12 and 14 units per floor, the residential blocks’ layout is designed in a way to cut off the long corridor effect by breaking it up at the lift core.
  • Conezión’s residential floors have wide corridors of 6 feet and big voids to lighten up the corridor areas.


Commercial Concepts

  • Exposure to the Highway 5 and the main trunk road determined the positioning of certain shops frontage. Example, Block 15 to 18 are directly exposed to Highway 5 whereby Block 1 and 2 are facing directly the main trunk road. These blocks act as ‘landmark blocks’ or ‘advertisers’ to lure and attract people into the development.
  • Creating an internal focal point is essential for this commercial-centric development. This focal point will act as the following:

    (i) Area identification
    By creating this focal point, it allows people to easily navigate their sense of direction and identify the space and location.

    (ii) ‘Magnet’ or ‘nucleus’ of activities
    Continuity of the peripheral and internal activities is important to fully experience the many attractions offered. Block 4, 5, 8 and 9 form a circular courtyard with strong axis of pedestrian linkages running from North-South and East-West ends, connecting the front, back and sides of the development.

  • One of the factors in making commercial development successful is to have an easy and clear traffic flow. Two ingress and egress are provided from the main trunk road to the commercial area.
  • Two-tier road system is created due to the different levels of the existing topography.

    (i) Tier 1: Level 4 deck serving most of the shops on this deck facing the internal road.

    (ii) Tier 2: Perimeter road which runs parallel with the external road. This road is ramping down from the two main entrance towards Highway 5 and act mainly as a feeder for the structured parking and also serving the shoplots fronting Highway 5 below the Level 4 deck.

    Separated and dedicated entrance to the commercial and residential parcels as well as dedicated multiple entries to the parking areas. This will help to disperse traffic easily and smoothly especially coming out from the parking area.

    Separated and dedicated parking levels for the commercial and residential components for privacy, safety and security, management and convenience purposes.

    The structured carpark is well hidden by taking advantage of the difference in levels of the existing topography and positioning of the shops.

  • Cantilevered terrace of 15 feet wide overlooking the sprawling 18-hole Palm Garden Golf Club was created to cater for alfresco dining activities.


Property Details

Name :   Conezión @ IOI Resort City Phase :   Single Phase Developer :   Mayang Development Sdn Bhd      (a wholly-owned subsidiary of IOI       Properties Group Bhd) Location :   Off Persiaran Utara, Putrajaya Tenure :   Freehold Land Area :   16.49 acres Completion :   Q4 2018


Conezión Residence

Property Type :   Service Apartment Sch. H of HDA :   Yes No. of Blocks :   Tower A: 32 storeys     Tower B: 31 storeys      Tower C: 31 storeys      Tower D: 32 storeys  No. of Units :   1,326 units     – Tower A & C – 364 units per block     – Tower B & D – 299 units per block No. of Lifts :   4 high speed passenger lifts and 1     service lift in each block Unit Types :   Type As are 3-bedder unit     – Type A1: 1,251 sf (Corner/balcony)     – Type A2: 1,278 sf (Corner/balcony)     Type Bs are 3- and 2+1 bedder unit     – Type B1: 986 sf (3/no balcony)     – Type B2: 990 sf (2+1/no balcony)      Type Cs are 2-bedder unit     – Type C1: 780 sf (No balcony)     – Type C2: 783 sf (No balcony) Car Parking Bay :   Provided 2 bays per unit     – Total of 3,200 carpark bays spread       over 5 levels of podium Price Range :   From RM459,000 onwards Price Per Sq Ft :   From RM530 psf onwards Maintenance :   RM0.35 psf, inclusive sinking fund


Specifications & Features

Corridor :   Natural ventilation     6 ft wide corridor provided Refuse Chamber :   Proper refuse room  Ceiling Height :   High ceiling for each unit     Floor to floor height – 3.3m (10.8 ft) Security Tier :   4-tier security tier is provided:     – Guarded ingress and egress with        intercom and card access system     – Card access verification at lift lobby      – CCTV in the lift and lift lobby     – Digital lockset at every unit’s main        entrance door Structure :   Reinforced concrete Wall :   Brick wall/reinforced concrete Windows :   Aluminium frame window Entrance Door :   Timber door – Fire rated Wall Finishes :   Plaster and paint     Wall tiles for all bathrooms and kitchen Floor Finishes :   Porcelain tiles for all areas     Ceramic tiles for balcony and yard     Cement render for AC ledge Sanitary :   Water closet, wash basin with fittings,     accessories for all bathrooms and rain     shower head provided


Conezión Commercial

Property Type :   Retail Shops and Office No. of Blocks :   14 blocks     – 2, 4 and 5-storey retail shop-offices      – Developer intends to manage leasing No. of Units :   445 units Car Parking Bay :   Basement carpark     – Total of 2,194 carpark bays spread over       4 levels of basement Price Range :   From RM,000 onwards Price Per Sq Ft :   From RM0 psf onwards Maintenance :   RM0.25 psf, inclusive sinking fund


Contact Developer

Sales Gallery :   IOI Galleria @ IOI Resort City     Lot 50430, Jalan Persiaran Utara,     IOI Resort,     62502 Putrajaya GPS :   2.966924, 101.718379 Tel / Hotline :   +603-8947 8899     +6016-944 2227 (Aizat)     +6016-630 2312 (Vincent) Project Website :


Now Open For Sale


Events & Happenings


Current Promotion

For more info, visit Buy Now, Pay Later!



Conezión Launch Event

Date: Sat & Sun, 26 & 27 Mar 2016

Time: 10am – 5pm

Venue: IOI Galleria @ IOI Resort City



Coffee Latte Art Workshop

Date: Sat & Sun, 23 & 24 Jan 2016

Time: Both days,

           11am – 1pm (session 1)

           2pm – 4pm (session 2)

Venue: IOI Galleria @ IOI Resort City




A homey retreat, resort in a resort.

Soak in the warm embrace of the sapphire blue lagoon and feel stresses disappear into sublime harmony. Have a friendly match at the multi-purpose court or get into shape in the fully facilitated gymnasium. You deserve this side of the world with nothing short of utter relaxation.

Lifestyle facilities are located at Level 6 and each pair of towers will share the same facilities, hence two sets of facilities. There will be two checkpoint entrances and exits for each pair of towers.



Entrance Statement

  • Guardhouse with unconventional arch


Level 6: Facilities Deck

  • Swimming pool (25m)
  • Wading pool
  • Aqua bed
  • Chill-out deck
  • Gymnasium
  • Mini theatrette
  • Games room
  • Party room
  • Children’s art studio
  • Learning lab
  • Multi-purpose hall
  • Multi-purpose court





The Developer

IOI Properties Group Berhad (“IOIPG”) is one of Malaysia’s leading public-listed property developers. It has built a solid reputation as the esteemed property arm of Malaysian conglomerate IOI Group prior to its successful listing onto the Main Board of Malaysian Stock Exchange on 15 January 2014.

Today, IOIPG is renowned as one of the largest property companies in the country with a proven track record spanning more than three decades in the property development industry. The company was responsible for the successful development of comprehensive self-contained suburban townships along the high-growth corridors in Klang Valley (Puchong, Putrajaya and Klang), Penang Island and Southern Johor (Kulai and Segamat).

IOIPG currently has a total of 10,000 acres of landbank in Malaysia and abroad.


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The Architect


Atelier ADT Akitek (Asia) Sdn Bhd is a top ten largest architecture practice in Malaysia. The quantum of projects undertaken by the practice in terms of contract value is well above the RM1 billion mark in recent years.

The company has an impressive track record over the past two decades in terms of list of clientele and projects undertaken such as Damansara Legenda, an award-winning township project by Mah Sing Group. The firm was also nominated for the prestigious 4th annual BCI Asia Top 10 Awards in 2008.


View Full Profile

Location Map

GPS Coordinate: 2.965310,101.720543


Street View

Conezión’s hoarded site seen from Persiaran Utara in Putrajaya.

Accessibility, Amenities & Infrastructure


  • 5mins to Putrajaya
  • 20mins to KLIA
  • 30mins to KLCC, via MEX Highway



  • MEX Highway
  • ELITE Highway
  • SILK Highway
  • South Klang Valley Expressway (SKVE)
  • LDP Highway via Persiaran Utara


Public Transportation:

  • ERL service from Putrajaya Sentral directly to KL Sentral or KLIA
  • Taxis from Cyberjaya Transport Terminal
  • Feeder buses from Putrajaya Sentral to Cyberjaya


Future Infrastructure:

  • The MRT SSP Line (Line 2) will be ending adjacent to Putrajaya Sentral in Presint 7 Putrajaya, which is 13km to Conezión via Persiaran Utara
  • However, Conezión is also located within 10km to preceding stations such as 16 Sierra and Cyberjaya North (near Garden Residence)



  • Fibre optic backbone
  • Standard area backbone


Business Park:

  • Cyberjaya is Malaysia’s designated “Silicon Valley”.
  • Working population of over 35,000 IT workers. 
  • 443 MSC-status companies, including 257 MNCs. 
  • Several data and call centres positioning Cyberjaya as Malaysia’s leading BPO centre.


Shopping Centre:

  • Walking distance to regional shopping centre IOI City Mall, Putrajaya.
  • Conezión’s retail boulevard contains an array of retail mix.
  • D’Pulze Shopping Centre in Cyberjaya
  • AEON Taman Equine Shopping Centre


School & International School:

  • SJK(C) Union (Opening 2017)
  • Nexus International School Putrajaya Campus
  • ELC International School Cyberjaya Campus
  • Australian International School @ The Mines
  • Tanarata International School @ Kajang
  • Taylor’s International School @ Puchong
  • Rafflesia Private and International Schools @ 16 Sierra
  • SMK Cyberjaya


University & College:

  • Student population of over 43,000 students
  • Universiti Putra Malaysia (UPM), one of the nation’s apex university
  • Universiti Tenaga Nasional (UNITEN)
  • Perdana University and PU-Royal College of Surgeons in Ireland School of Medicine
  • Heriot-Watt University Malaysia Campus in Putrajaya
  • Limkokwing University of Creative Technology
  • Multimedia University
  • Kirkby International College
  • Cyberjaya University College of Medical Sciences (CUCMS)
  • Infrastructure University Kuala Lumpur (IUKL)
  • Another 4 universities being planned, including Open University Malaysia and SEGi University



  • Hospital Serdang
  • Hospital Putrajaya
  • National Cancer Institute Putrajaya


Leisure & Recreational:

  • Next to Palm Garden Golf Club & Resort
  • 5mins to Cyberjaya Lake Gardens
  • 5mins to Putrajaya Lake
  • 10mins to Taman Botani Putrajaya
  • 10mins to Wetlands Park Putrajaya


Nearby Landmarks:

  • 5mins to Institut Latihan Sultan Ahmad Shah, Kajang
  • 10mins to Institut Penilaian Negara, Kajang
  • 15mins to Petronas Leadership Centre, Bangi

Conezión Residence

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Conezión Commercial

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Development Plans

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IOI Resort City and IOI City Mall

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Conezión Show Gallery

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Construction Progress

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PTLM Guide is a general guideline that could be used by an investor to gauge the concepts and sustainability of any development. The key points are outlined here for easy reference. This enables an investor to evaluate his strategy of investment based on systematic set of criterias.

In this page, we do not publish specific scores achieved by this project for any of these criterias.


A. The Entry Facts

  • Location, visibility and environment

Putrajaya is the administrative centre of Malaysia. Although it is largely known to be a government and civil servant city, IOI Resort City, a resort-like township, is strategically located at the north-east fringe of Putrajaya bordering matured townships in the north. In terms of driving proximity, IOI Resort City is, in fact, a short driving distance for residents of the southern region of Klang Valley, namely Puchong, Serdang, Seri Kembangan, Balakong, Kajang, Bandar Baru Bangi, Dengkil and Semenyih. The biggest selling point of IOI Resort City is the IOI City Mall and the future prospects of IOI Resort City. It is a large-sized integrated shopping centre similar to Mid Valley Megamall, which acts as a ‘focal point’ for attracting businesses, leisure activities and living density. Evidently, the residents from the mentioned southern suburbs, including those from the immediate Putrajaya, throng the IOI City Mall in large numbers especially on weekends.

The 16.49-acre Conezión is located off Persiaran Utara (Highway 5) and off Lebuh IRC, which connects IOI Square office towers and the Putrajaya Marriott Hotel. It is the first mixed-use development in the fast developing integrated township of IOI Resort City. One will not miss this full road-frontage development as it is located just right beside Persiaran Utara (Highway 5) if the person is coming from Putrajaya and coming close to the interchange of South Klang Valley Expressway (SKVE) which leads you to other major nearby townships such as Equine Park, 16 Sierra and Bandar Baru Bangi. Persiaran Utara is conveniently connected within minutes to major highways such as the North-South Expressway, MEX, ELITE, SILK, SKVE and LDP. Conezión’s largely glassy-façade in both of its residential and commercial components will be highly visible to visitors here.

The environment within Conezión is best described as peaceful and serene. This is because of the sparse-populated environment right now and that the site is overlooking undulating greens. Conezión is another development that overlooks golf course. IOI Resort City is host to a 18-hole Palm Garden Golf Course and Clubhouse, designed by Australian architect Ted Parslow. The landscape of the golf course is enhanced by the use of green carpets of Bermuda Tifdwarf. The course is sand-capped and there are alot of undulations, mounds and swales. Natural boulders and rocks that were dug up were used as aesthetics that dotted the landscape throughout the course. When one plays here, they will feel that they are playing in another country. So if you are a resident at Conezión, you will be pampered with such views everyday without a need to be an avid golfer!

  • Distance to key locations and growth value of an address

Being located at the fast-growing southern part of Klang Valley, Conezión is well-served by a wide variety of amenities and infrastructure that are easily accessible from its location. For instance, it is just 700m away to regional shopping mall, IOI City Mall; and 5 minutes drive away from three major hotels serving the administrative capital of Putrajaya. The hotels are the 5-star Putrajaya Marriott Hotel, the 4-star Palm Garden Hotel and the up-coming 5-star Le Méridien Putrajaya Hotel.

Besides Putrajaya, the other surrounding suburbs that are close to Conezión are Puchong, Serdang, Seri Kembangan, Kajang, Bangi and Dengkil. These are the immediate catchment markets for the commecial component within Conezión. Major roads are linked to these populated areas within minutes of driving. The expansion of these matured areas will provide population growth to IOI Resort City. At the fringe of IOI Resort City are Hospital Serdang and two universities, namely Universiti Putra Malaysia (UPM) and Universiti Tenaga Nasional (UNITEN). UPM has a student population of 23,200 students and 2,600 staffs.

  • Concepts, architectural and practicality aspects

More than “80% percentile” integrated living concept is achievable. Live, work and dine within. How about shop, play and entertain? Needless to worry as the mammoth IOI City Mall and the 18-hole Palm Garden Golf Course and Clubhouse are just under 5-minute drive away from the development guardhouse. It will most likely be walk-able in the future via a pedestrian link bridge linking Conezión Commercial to the upcoming IOI City Mall Phase 2, which is an extension to the existing mall. There will be MSC-status, Green-rated offices as well as the 5-star Le Méridien Putrajaya Hotel integrated with the Phase 1 of the mall.

The advantage of Conezión is that it is IOI Resort City’s first mixed-use development of residential and commercial. Similar to Solaris Dutamas in Kuala Lumpur, its road-accessed, wide-width boulevard concepts will be well-adaptable by the local population. The convenience factor will be largely cherished by its future residents, especially when it is uniquely one-of-its-kind in most of the southern region and Putrajaya. Hence, this will distinguised Conezión from other immediate product such as Puteri Palma condominiums and The Clio Residences. Besides that, the two-tier road system will ease and clear the moving traffic flow. It is thoughtfully planned to accommodate the returning-to-home residents and the influx of visitors to Conezión.

Although there are no confirmation of the retail tenants as todate, but the developer believes that the retail development will appeal to a significant number of F&B and café outlets, fashion wholesalers and product showrooms including auto-dealers. Its glassy outlook provides a savvy-like, corporate factor to businesses while its waterscapes and landscape-moulded central courtyards beneath the residential blocks are specially designed to promote lively interactions within an al-fresco setting. Its organic-shaped cantilevered terrace is 15 feet protruding to give the best golf course views and it is designed to build crowd attraction and create a festive mood. Given such architectural statement, the retail mix will appeal to the working professionals, middle to mid-upper class.

The apartment units have wide glass façade whereby all the rooms and living area are able to be positioned to the outside views. The living areas are located in the middle of the unit layout, which means the bedrooms will be located at both sides. This would remove the need for a corridor linkway to the bedrooms, hence increasing the overall space utilisation. During the day, natural lighting will be prioritised hence the reduce need for switching power for lighting. There are dedicated drop-off areas for each of the residential towers with exclusively high-ceiling lobbies greeting the residents and guests. Its facilities deck are created with a retreat ambience because of the availability of aqua beds for relaxation by the poolside.

  • Density of development

The total number of service residence is 1,326 units. The mall/golf-fronting towers, Tower A and C, contain 364 units each block while the UNITEN-fronting towers, Tower B and D, contain 299 units each block. Towers C and D sit beside The Clio Residences, which made up of 234 units of service apartments in one 35-storey block.

In terms of residential planning, Conezión has a density of approximately 80 units per acre in comparison to approximately 116 units per acre at The Clio Residences. The lower residential unit density per acre for Conezión is due to the provision of 445 units (14 blocks) for commercial spaces within the development. We calculated a total gross floor area of approximately equilvalent to a plot ratio of 1:5, which is relatively high density for Putrajaya region but a relatively common base density for commercial mixed developments in suburban Kuala Lumpur.

We noted there are 12 and 14 units per floor across the residential blocks. We think the floor density is high. They will be served by 4 passenger lifts  and 1 service lift on every floor. The waiting time for the lifts are calculated to be acceptable and above the minimum guideline. We like the fact that the lift lobbies are centrally located between the halves of the floor plan. This would cut-off the long corridor effect by breaking it up at the lift core.

Residents here will be pampered with a large amount of potential retail spaces, hence the proximity to conveniences and lifestyle needs. We believe there are more than sufficient commercial spaces to serve the residential component. The vibrancy of the commercial component will be further enhanced given the rising population within IOI Resort City in the coming years.

  • Developer and branding

As of February 2016, IOI Properties Group Bhd (“IOIPG”) remains the largest public-listed Malaysian property developer on Bursa Malaysia in terms of market capitalisation. The company has built a solid reputation with a three-decade track record of building sprawling townships and as the esteemed property arm of Malaysian conglomerate IOI Corporation Bhd, or in general, the IOI Group of Companies. It has successfully developed vibrant townships in sought-after regions of Klang Valley and Johor in Malaysia while embarking on property developments in Singapore and the People’s Republic of China. Its first successful township was Taman Mayang in Petaling Jaya before developing Bandar Puchong Jaya. IOIPG currently has a total of 10,000 acres of landbank in Malaysia and abroad.

Abroad, IOIPG established its presence in Singapore’s property market in 2007. It has ventured into five property developments in the country comprising high-end residential developments and integrated mixed developments. Among them are the luxury condominium developments of Seascape and Cape Royale in Sentosa Cove and the award-winning South Beach project, which is a joint venture with Singapore’s top property developer, City Developments Limited. In 2010, IOIPG ventured into property development in China. It has embarked on two mixed property developments, namely the IOI Park Bo Bay and IOI Palm City in Xiamen, Fujian Province of the People’s Republic of China.

Locally, IOIPG strives to become an integrated developer of sustainable communities as evident in the success of its past and recently completed projects. The developer attributes its success to consistency in delivering valued products. As an example, both its Bandar Puchong Jaya and Bandar Puteri developments in Puchong, Selangor have been sought-after living address in the Klang Valley due to intricate masterplanning of townships with practical product design in every launches, rightfully-positioned commercial centres with large visibility and excellent accessibility to major highways. These townships boast a growing population and ever-popular retail hubs alongside corporate workplaces, i.e. Puchong Financial Corporate Centre. There are also land provisions for future commercial developments that are intended to continue to spur human activities even after the townships are matured.

The every success of Conezión would very much be dependent on IOIPG’s experience and financial strength to develop IOI Resort City into a big success story for the southern region.

  • Price level and price comparison

As of February 2016, the Conezión Residence has an average published gross price range of RM530 psf to RM670 psf. Majority of its units are priced below the RM800,000 mark. In comparison, the remaining units at The Clio Residences are selling now with an indicative average selling price of RM630 psf for a minimum partially-furnished unit (2 air-cons only). In conjunction with the official launch of Conezión Residence, the developer is offering the following marketing strategy:

1. A low booking fee of RM5,000 per unit.

2. An attractive upfront rebates and an add-on rebates if sign SPA within 21 days, and

3. Free SPA and Loan Agreement legal fees, and

4. Free 3 units of air-conditioning, and

5. Cash rewards of RM10,000 for Type C and RM18,000 for Type A and B, and

6. Pre-launch offer consists of a cash voucher worth RM10,000, selling at RM5,000. Limited to only 100 vouchers, while stock last and voucher holder enjoy priority purchase prior to the launch event.

7. A promotional period easy payment scheme*, which ease the downpayment at the point of purchase and allowed greater flexibility to genuine homebuyers who may not have sufficient cash at the point of purchase.

8. Holders of IOI Privilege Card will enjoy additional rebates. 

* Note: The ‘Buy Now, Pay Later’ scheme is for the differential sum of up to 20% of the purchase price which can be deferred up to 24 months, subject to terms and conditions.

  • Surrounding commercial, infrastructure, amenities, distance and accessibility

IOI Resort City is a greenfield development and a new master-planned urban area totalling 400 acres (161.87ha) of land. The entire development is expected to generate an indicative gross development value (GDV) of RM20 billion. Due to its location on the northern side of Putrajaya, IOI Resort City is blessed with connectivity to 5 major expressways and is located within 15-minute driving distance to train stations in Kajang and Putrajaya Sentral, both being the stations for the mass rapid transit (MRT) lines 1 and 2. Besides Putrajaya, the catchment markets are Puchong, Serdang/Seri Kembangan, Kajang, Bangi and Dengkil. Therefore, all major roads are linked to these populated areas within minutes of driving. The expansion of these matured areas have caused significant spillover effect to IOI Resort City.

Overall, IOI Resort City comprise of exclusive high-end bungalow-lots enclave (Diamond Hill and Beverly); the regional shopping centre being IOI City Mall; several office towers being IOI Square and IOI City Office Tower 1 & 2; several international-class hotels being Putrajaya Marriott (5-star), Palm Garden Hotel and the upcoming Le Méridien Putrajaya (5-star); Puteri Palma condominiums; and the sprawling 18-hole Palm Garden Golf Course and Clubhouse. At the fringe of IOI Resort City are Hospital Serdang and two universities, namely Universiti Putra Malaysia (UPM) and Universiti Tenaga Nasional (UNITEN).

The entire resort-like city is ready with infrastructure and is served by a luxurious 3-to-4 lane main artery roads such as Persiaran Utara and Lebuh IRC. Conezión and The Clio Residences are currently being developed as new residential and commercial precincts. IOI City Mall will be further expanded to become one of the largest shopping destination in Malaysia. Future developments include IOI City Mall Phase 2 and upcoming launches such as Par 3 Condominiums & Townhouse Villa, The Clio 2, The Jewel, Jems Condominiums and The Southern Hills.

Conezión is the first mixed commercial development within IOI Resort City. The self-contained development is planned for retail conveniences such as banking, grocery shopping and dining, or just meeting places for casual meet-ups. Not just that, the Conezión has the potential to be a business address for small-medium enterprises (SMEs) who are seeking to be part of the future community of IOI Resort City, or attracted to a more accommodative rental rates that could be offered here compared to Cyberjaya. This location could be ideal for techno-preneurs who are dealing with supporting services to multi-nationals in nearby Cyberjaya. Entrepreneurs too will start afresh in newer offices and established ones may relocate out of other older suburbs namely Serdang, Seri Kembangan and Puchong.

To jumpstart commercial activities within Conezión, the developer has decided to manage the leasing for all of the commercial retail shop-office units instead of selling them as individual strata unit block. Previously, the developer has confirmed to PTLM that it intends to keep at least 2 shop-office blocks, namely Block K and Block L, for future leasing purposes upon completion of the development. Both blocks are fronting Persiaran Utara with high visibility and will be ideal for drawing anchor tenants to the development.

  • Existing demographics

IOI Resort City is envisioned to be a relatively semi-affluent area with middle-to-high income earners and a large student community. Currently, it is a “greenfield” urban development incorporating resort living by IOIPG. Existing night-time residents of IOI Resort City are those staying at the Puteri Palma condominiums, and they include some expatriates.

The immediate Putrajaya area, which is the administrative capital of Malaysia, has a populace largely comprising of the civil service. The racial composition almost imitate the composition of the Malaysian society, with the majority being ethnic Malay. Neighbouring town of Cyberjaya is an integral part of the Multimedia Super Corridor (MSC) and is aspiring to be the “Silicon Valley” of Malaysia. Currently, Cyberjaya offers a large number of property developments that are indirectly dependent on the road networks and attractions within IOI Resort City for leisure purposes, such as the IOI City Mall and the upcoming hotel developments.

Neighbouring Serdang, Seri Kembangan, Puchong and Kajang are largely mix demographic areas, with a large number of Chinese-ethnic population, comprising mostly of the working class with a semi-moderate purchasing power level. There are a significant SMEs community in Seri Kembangan and Puchong

There are a significant student population in Cyberjaya and neighbouring Bangi and Serdang due to the presence of large and established universities.

  • Presence of future catalystic projects

According to an TheEdgeProperty news report in January 2016, IOIPG is targeting to begin construction of Phase 2 of the IOI City Mall before the 93%  with an investment of RM500 million. Phase 2 will add close to 1 million sq ft to the existing mall – which has a net leasable area (NLA) of approximately 1.4 million sq ft and is 93% occupied as of the end of 2015.

Construction of the mall is expected to take about 3 years, which we believe full completion would be roughly 1 year later after the completion of Conezión. When combined in the future under one roof, IOI City Mall potentially boasts over 2.4 million sq ft of NLA, making it at least the top three largest shopping mall in Malaysia.

We believe that the MRT Sungai Buloh-Kajang Line (MRT 1) and the proposed MRT Sungai Buloh-Kajang-Putrajaya Line (MRT 2) will augur well for the southern region. The proposed Line 2 will be ending adjacent to Putrajaya Sentral in Presint 7 Putrajaya, which is 13km to Conezión via Persiaran Utara, or roughly 10 minutes drive away. Conezión is also located within 10km radius to preceding proposed stations such as 16 Sierra and Cyberjaya North on the same line.

  • Continuity development

Besides retail development, there will be additional office and residential blocks by the flank of Phase 2 of the IOI City Mall including a proposed 50-storey mixed use tower. Other future developments include Par 3 Condominiums & Townhouse Villa, The Clio 2, The Jewel, Jems Condominiums, The Southern Hills, and many more including purpose-built business and technology parks, university campuses, high-end and affordable residential enclaves.

IOI Resort City is not just home to IOIPG’s headquarters but also the greater IOI Group of Companies. The developer is committed to deliver its vision and providing resort-living herein one of their largest property development. Once all the developments are completed, IOI Resort City will be transformed into a well-planned major township in Southern Klang Valley.

  • Land tenure

Land within IOI Resort City is predominantly freehold, including the Conezión development.

  • Transit oriented development (if applicable)

Conezión is not a transit-oriented development. However, the development is approximately 10 minutes drive to Putrajaya Sentral, the ending station of MRT SSP Line (Line 2) and within 10km radius to the Line’s preceding stations such as 16 Sierra and Cyberjaya North (near Garden Residence).

  • Integrated retail concept (if applicable)

Conezión is designed to offer a lifestyle living of which both the residential and commercial elements are connected to one another. The idea of integration is inter-connected here because as many as 445 units of 2, 4 and 5-storey shop-offices and retail shops are located right beneath the residential units. The creation of a central courtyard will forge an intricate relationship among humans as visually attractive al-fresco, water and green landscapes and advertisements will attract residents as well as visitors to rejuvenate within instead of visiting a jam-packed mall especially on weekends.

One should not look at Conezión as an isolated development in the midst of large greenfield or undeveloped lands. Just 700m away from Conezión is home to a mega-sized regional mall, IOI City Mall, which has a net lettable area (NLA) of 1.4 million sq ft. It is home to 350 specialty stores, more than 100 food and beverage outlets, a Tesco hypermarket, a 13-screen Golden Screen Cinemas, the Icescape, Malaysia’s first Olympic-sized ice-skating rink and District 21, the first-of-its-kind action-themed park in Malaysia of about 70,000 sq ft space. Since opening in November 2004, the mall has achieved an occupancy rate of 93% as of December 2015. It is a new generation shopping centre which has been drawing crowds from all over Kuala Lumpur and the spillover effect from its success results in extra business opportunites for Conezión.

On 4 January 2016, IOI Properties, the developer of Conezión, announced that it will be adding another 1 million sq ft of retail space to the Phase 1 of IOI City Mall. The new extension, or Phase 2, will be completed before 2020. Hence, with a combined at least 2.4 million sq ft it will make IOI City Mall one of the largest shopping destination in Malaysia. The Phase 2 of the mall will be just across Persiaran Utara from Conezión. By the time of completion, Conezión would just be 250m from IOI City Mall and a potential future pedestrian bridge across Persiaran Utara would be suffice to link Conezión Commercial and Conezión Residential into the shopping mall.

  • Competitor risk – peer-to-peer product comparison against its vicinity

As mentioned above, Conezión is IOI Resort City’s first mixed-used integrated development. At this juncture, there is no direct competitor of a similar product in the vicinity. The nearest highrise condominium will be Conezión’s direct neighbour The Clio Residences and the Puteri Palma condominiums. However, Conezión will be the nearest residential development to the soon-to-be-enlarged IOI City Mall, with a potential future pedestrian bridge link to the Phase 2 of the mall. The Clio Residences is a single 35-storey block consisting of 234 units of service apartment, and it will be completing by September 2017, which is more than a year ahead of Conezión.

According to PTLM Research, several transacted subsale of Puteri Palma condominiums (Phase 1-3) over the last 18 months ranged between RM450 to RM545 psf for unit sizes between 1,377 sq ft to 1,797 sq ft. That being said, subsale prices are dependent on the condition of the property, the availability of rental tenancy at the time of transaction and other factors of desirability. These condominiums were completed more than a decade ago and decent units could command a rental of between RM2,500 to RM3,800 for unit sizes mentioned and up to RM5,500 per month for the extra-large sizes. We noted some differences between the rental demand here compared to certain developments in Cyberjaya, namely the better profile of renters here, including some working expatriates with families and schooling children. They are more likely to be staying for the longer term due to the resort-like amenities offered within. The residential rental yield that the developer expects here is 4%.


B. Product Design Buy Factors

  • Practical unit layout design

In Conezión, the residential units consist of 3 distinct layouts which are: Type A: 1,251-1,278 sf (3-bedder), Type B: 986-990 sf (3/2+1-bedder) and Type C: 780-783 sf (2-bedder). The efficiency of the unit layout is highly optimised and suited a young working family. The key features of its unit layouts and floor plans are as follows:-

1. Standard foyer to the main entrance, kitchen yard and A/C ledges are provided.

2. Only Type A comes with a balcony attached to the Living area, and they are all corner units with a “L-shaped” façade window at the master bedroom and façade windows for Bedroom 2 and 3. Type A has 3 bedrooms with 3 ensuite bathrooms, one of which is shared to act as a powder room.

3. Type B2 of 990 sf is the only unit type with a study room, naturally ventilated via a window and able to fit a single bed.

4. Each of the units have wide frontage whereby all the rooms and living are able to be positioned facing out, to maximise natural sunlight and exposure to the surrounding views.

5. Very spacious living area, extra-wide width of the living area is suitable for family living.

6. All living areas are in the middle of the unit layout, which means the bedrooms will be located at both sides. This would remove the need for a corridor linkway to the bedrooms, hence increasing the overall space utilisation.

7. Kitchens is reasonably spacious at one end of the unit layout behind the entrance. Type C does not come with a yard, while there are yards at Type A and B which are relatively small.

8. Although there are 12 and 14 units per floor, the residential blocks’ layout is designed in a way to cut off the long corridor effect by breaking it up at the lift core.

9. Conezión’s residential floors have wide corridors of 6 feet and big voids to lighten up the corridor areas.

  • Unit orientation

All residential unit’s rooms and living area are positioned to maximise the outside view of lush greens and human activities below the blocks. The main side of Tower A and C face north and west while the main side of Tower B and D face south and east. The inner side of these tower blocks face their respective pair of facilities deck at Level 6 as well as some glimpse of the commercial courtyard. The main side of Tower B and D faces UNITEN, which is somewhat dull although the grees are aplenty.

We think the inner view is a disadvantage to those who value scenic views. Hence, the best orientation will be residential units at the main side of Tower A and C. Units on the main side of Tower A and C will have soothing views of the Palm Garden Golf Course and Clubhouse and IOI City Mall. We noted that this view will be facing Persiaran Utara, the main artery road, which would still be reasonably sparse in terms of traffic-flow. Hence, lesser noise impact to your unit as compared to other developments that fronted a major highway.

  • Fittings and furnishings (if applicable)

Standard bare unit. Owners have the flexibility to perform their own furnishing and renovation. Note: For early-bird purchasers, and to assist in their renovation expenditure, IOI Properties will be offering a cash voucher worth RM10,000 for the price of RM4,000.

  • Sufficiency of parking bay and carpark allocation

Generously, every residence unit is provided with 2 carpark bays. Overall, there are over 3,200 carpark bays provided in this entire development. Four levels of basement carpark and ground-level parking will be provided for the retail-office component.

The residents’ carpark area is located at 5 levels of podium above ground level, directly below the facilities deck at Level 6. Two carpark bays are provided for every residential unit. This development adequately fulfills its carpark requirements.

  • Design of corridor, corridor spaces and ventilation

The residential corridors are naturally-ventilated. Although there are 12 and 14 units per floor, the residential block’s layout is designed in a way to cut off the long corridor effect by breaking it up at the centre lift core. The centre core will direct residents along their respective corridor. Every Conezión floor will have corridors of 6 feet and big air-well voids next to each unit to provide ventilation and lighten up each stretch of the corridor. The centre core will be brightened up slightly by natural lighting from the open void from the side and lighten up with electrical lights when necessary. Each floor will have two emergency staircases, each located at the far end of each side.

  • Availability of proper refuse area

The refuse chute is built next to each block’s centre core lift lobby, adjacent to a service lift. The lower density blocks, Tower B and D, will have the service lift located together with the refuse chute.

  • Variety of facilities, green and open spaces
    – Example: For families, children-friendly facilities are to be considered

Lifestyle facilities are located at Level 6 and each pair of towers will share the same facilities, hence two sets of facilities or 663 units per facility plan. Herein, there are 12 main facilities including a 25-metre swimming pool, its distinctive “Aqua bed” for relaxation by the poolside, mini theatrette, a well-equipped gymnasium, children’s art studio and others.

Overall, the facilites are relatively basic and family-based. Since IOI Resort City is a comprehensive integrated urban development, other urban lifestyle facilities will be made available in the future within minutes drive away from home.

  • Reasonability of maintenance fees based on offered facilities over density

The proposed maintenance charge for Conezión Residence is RM0.35 psf, inclusive of sinking fund. We noted the maintenance charge is on a slightly high side based on the offered facilities and overall density of the development. However, this amount is fairly reasonable for a service apartment development when completed in 3 years time. The maintenance fee is inclusive of all in-house amenities for residents. Likewise in most service apartments, the future management body has the discretion to decide on the usage of room-based facilities and/or whether they will be separately charged.

Meanwhile, Conezión Commercial retail shop-offices will have a maintenance charge of RM0.25 psf, which is inclusive of carpark security, landscaping and the upkeep of common and waterscape areas.

  • Impressive and modern façade

Uniquely for the vicinity of Putrajaya, Conezión will be a highly modern contemporary development where crisp and strong linear elements with bold horizontal and vertical features could be found prominently on its glassy façades. Its glassy façade articulated with its crescent-shaped steel framing gives a distinctive character to the building as it is aimed at being one of the iconic residential towers in the area. It is most eye-catching even from far. It must be noted that each unit comes with a wider frontage with full glass windows for rooms and living/dining area makes the units brighter, breezier and trendier with optimum views.

  • Entrance statement, guardhouse, drop-off area and lift lobby

Grand dedicated drop-off areas are provided for each of the towers with exclusively high-ceiling lobbies in order to warmly greet the residents and guests. At the main guardhouse and checkpoint entrance, an unconventional archway design hovering above the guardhouse distinguishes itself from the rest, making it a resort-like environment and providing a smoothing retreat ambience.

There will be two checkpoint entrances and exits for each pair of towers, giving a higher privacy for this 4-block development.

  • Security features and privacy design

Despite being a service apartment development integrated with a sizeable commercial component, a 4-tier security will be provided to all residents based on keycard access system:-

(1) Two separately guarded ingress and egress checkpoints with intercom and card access system; and

(2) Card access verification at lift lobby; and

(3) CCTV surveillance in the lift and lift lobby; and

(4) Digital lockset provided at the main entrance door of each and every unit.

  • Other unique features (if applicable)

Everyday residents may enjoy the sprawling, undulating green views of the 18-hole Palm Garden Golf Course and the regional shopping mall, IOI City Mall. Besides the peaceful and serene environment within IOI Resort City, Conezión residents will have plenty of conveniences and F&B retail below home.

  • Green rating or greening features (if applicable)

No GBI rating applicable. However, as mentioned above, Conezión is designed with reasonably lush landscaping at facility level and at central courtyards beneath the residential blocks.


C. Strategic Investment Process

  • Equip with property market and personal finance knowledge.
  • Identify your niche by studying close-by competing, similar and future products.
  • Benchmark against competing product prices on PSF basis.
  • Study potential commercial viability and retail catchment (for mixed development).
  • Survey the level of occupancy in the neighbourhood.
  • Survey existing demographic and resident profile in the vicinity.
    Example: Close proximity to education hub may bring new demand year after year.
  • Survey the current rental and subsale price from nearest comparison today.
  • Forecasting by making estimated future rental assumption.


D. The Exit Strategy

  • Ensuring personal finance capability to maintain the property for minimum of 5 years.
  • Ensuring personal finance capability for renovation and value-added activities that will help to mitigate risk factors.
  • Perform calculation of estimated rental yield for first year of occupancy.
  • Forecasting by making estimated future subsale price.
  • Determine profit from investment after settling outstanding loan amount.